At a shareholder meeting held on March 30, 2022, the shareholders of the Growth Fund, Balanced Fund and Small Cap fund approved a proposal to transition each Fund from the Mairs & Power Funds Trust into a series of Trust for Professional Managers (TPM). We thank all the Shareholders for their vote FOR this reorganization.
The Funds will move to TPM effective at the close of business on April 29th, 2022.
There will be no changes to the Funds’ investment objectives, principal investment strategies, principal risks, investment adviser or portfolio management teams. The reasons for the reorganizations were to allow the Funds greater access to legal, research and operational resources with an expected decrease in expenses for each Fund.
From everyone here at Mairs & Power, we thank you for your support and taking the time to vote this proxy.